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Administrator Guide
Last Updated: 2023-06-23
Create 1042-S Income Codes

Create 1042-S Income Codes

Create income codes and map them to spend categories and spend category hierarchies for 1042-S income and withholding reporting.
  1. Access the
    Maintain 1042-S Income Codes
     task.
  2. Select, modify, or create a 2-digit
    Income Code
     and
    Description
    .
  3. Specify one or more spend categories or spend category hierarchies for each income code.
    2-digit income codes must be unique and cannot be mapped to spend categories or spend category hierarchies linked to other income codes.
  4. Select the
    Federal Withholding
     and
    State Withholding
     spend categories or spend category hierarchies to withhold amounts on 1042-S spend.
You cannot delete 1042-S income codes once they are used in transactions, but you can edit the spend categories and spend category hierarchies attached to them.